Sec. 36a-609. (Formerly Sec. 36-545). Exemptions.
197 words·~1 min read·
/ct/title-36a/chapter-668-nondepository-financial-institutions/36a-609·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The provisions of sections 36a-597 to 36a-607 , inclusive, and sections 36a-611 and 36a-612 shall not apply to:
(1)Any federally insured federal bank, out-of-state bank, Connecticut bank, Connecticut credit union, federal credit union or out-of-state credit union, provided such institution does not engage in the business of money transmission in this state through any person who is not
(A)a federally insured federal bank, out-of-state bank, Connecticut bank, Connecticut credit union, federal credit union or out-of-state credit union,
(B)a person licensed pursuant to sections 36a-595 to 36a-612 , inclusive, or an authorized delegate acting on behalf of such licensed person, or
(C)a person exempt pursuant to subdivisions
(2)to (4), inclusive, of this section;
(2)Any Connecticut bank that is an innovation bank organized pursuant to subsection
(t)of section 36a-70 ;
(3)The United States Postal Service and any contractor that engages in the business of money transmission in this state on behalf of the United States Postal Service; and
(4)A person whose activity is limited to the electronic funds transfer of governmental benefits for or on behalf of a federal, state or other governmental agency, quasi-governmental agency or government sponsored enterprise.